Alnylam Pharmaceuticals’ (ALNY) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Alnylam Pharmaceuticals (NASDAQ:ALNY) in a research report sent to investors on Monday morning. The brokerage currently has a $152.00 target price on the biopharmaceutical company’s stock.

“Alnylam and the FDA announced Friday the approval of Onpattro for the treatment of polyneuropathy caused by hATTR. Mgmt guided for drug to be available today. WAC price is $450,000/yr and mgmt estimates average net price $345,000/yr. Because the label is focused on polyneuropathy, we assume penetration of the PN (only polyneuropathy symptoms) and Mixed (both cardiomyopathy and polyneuropathy symptoms) subsets, but not the cardiomyopathy subset of the hATTR patient population. Nevertheless, given the impressive efficacy seen in the Phase 3 APOLLO trial, we expect the drug to be an attractive and competitive option for PN +Mixed patients. Reiterate BUY. Our enthusiasm for the stock is still primarily driven by the RNAi platform, which we expect to produce several more differentiated drugs going forward.”,” Needham & Company LLC’s analyst wrote.

Other analysts also recently issued research reports about the stock. Piper Jaffray Companies dropped their target price on shares of Alnylam Pharmaceuticals from $182.00 to $160.00 and set an overweight rating for the company in a research report on Wednesday, June 27th. BMO Capital Markets lowered their price objective on shares of Alnylam Pharmaceuticals from $127.00 to $125.00 and set an outperform rating for the company in a research report on Monday. Cowen lowered their price objective on shares of Alnylam Pharmaceuticals from $157.00 to $147.00 and set an outperform rating for the company in a research report on Monday. BidaskClub raised shares of Alnylam Pharmaceuticals from a strong sell rating to a sell rating in a research report on Friday, July 13th. Finally, ValuEngine downgraded shares of Alnylam Pharmaceuticals from a strong-buy rating to a buy rating in a research report on Tuesday, August 7th. Four equities research analysts have rated the stock with a sell rating, two have given a hold rating and seventeen have assigned a buy rating to the stock. Alnylam Pharmaceuticals has an average rating of Buy and an average target price of $142.00.

ALNY opened at $92.95 on Monday. The company has a market cap of $9.80 billion, a P/E ratio of -17.14 and a beta of 2.31. Alnylam Pharmaceuticals has a 1 year low of $70.76 and a 1 year high of $153.99. The company has a debt-to-equity ratio of 0.02, a current ratio of 13.22 and a quick ratio of 13.22.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last posted its earnings results on Thursday, August 2nd. The biopharmaceutical company reported ($1.63) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($1.74) by $0.11. The firm had revenue of $29.91 million during the quarter, compared to the consensus estimate of $16.96 million. Alnylam Pharmaceuticals had a negative net margin of 533.52% and a negative return on equity of 38.09%. The company’s revenue was up 87.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.07) EPS. analysts expect that Alnylam Pharmaceuticals will post -6.99 earnings per share for the current year.

In other news, CEO John Maraganore sold 50,000 shares of the stock in a transaction that occurred on Wednesday, July 25th. The stock was sold at an average price of $105.39, for a total transaction of $5,269,500.00. Following the completion of the transaction, the chief executive officer now directly owns 201,297 shares in the company, valued at approximately $21,214,690.83. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Laurie Keating sold 1,563 shares of the stock in a transaction that occurred on Wednesday, June 20th. The shares were sold at an average price of $105.04, for a total value of $164,177.52. Following the transaction, the senior vice president now owns 16,063 shares of the company’s stock, valued at $1,687,257.52. The disclosure for this sale can be found here. 3.70% of the stock is owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in the company. FMR LLC boosted its stake in shares of Alnylam Pharmaceuticals by 0.4% during the 2nd quarter. FMR LLC now owns 15,078,361 shares of the biopharmaceutical company’s stock valued at $1,485,068,000 after buying an additional 52,653 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Alnylam Pharmaceuticals by 0.9% during the 1st quarter. BlackRock Inc. now owns 7,178,062 shares of the biopharmaceutical company’s stock valued at $854,909,000 after buying an additional 62,999 shares during the last quarter. Baillie Gifford & Co. boosted its stake in shares of Alnylam Pharmaceuticals by 10.4% during the 2nd quarter. Baillie Gifford & Co. now owns 4,231,881 shares of the biopharmaceutical company’s stock valued at $416,798,000 after buying an additional 397,668 shares during the last quarter. Point72 Asset Management L.P. boosted its stake in shares of Alnylam Pharmaceuticals by 49.4% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,356,408 shares of the biopharmaceutical company’s stock valued at $133,593,000 after buying an additional 448,362 shares during the last quarter. Finally, BB Biotech AG boosted its stake in shares of Alnylam Pharmaceuticals by 12.8% during the 2nd quarter. BB Biotech AG now owns 1,140,538 shares of the biopharmaceutical company’s stock valued at $112,332,000 after buying an additional 129,200 shares during the last quarter. Institutional investors own 91.30% of the company’s stock.

Alnylam Pharmaceuticals Company Profile

Alnylam Pharmaceuticals, Inc, a biopharmaceutical company, discovers, develops, and commercializes novel therapeutics based on RNA interference (RNAi). Its pipeline of investigational RNAi therapeutics focuses on genetic medicines, cardio-metabolic diseases, and hepatic infectious diseases. The company's clinical development programs include Patisiran, which is in Phase III clinical trial for the treatment of hereditary transthyretin-mediated amyloidosis; Givosiran that is in Phase III trial to treat acute hepatic porphyrias; Fitusiran, an investigational RNAi therapeutic that is in Phase II open-label extension and Phase III clinical trial for the treatment of hemophilia and rare bleeding disorders; and Inclisiran, which is in III clinical trial for hypercholesterolemia.

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Analyst Recommendations for Alnylam Pharmaceuticals (NASDAQ:ALNY)

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